|QUERY:||Can I accept gift from my father's own younger brother for my HUF consisting of myself, my wife and children?|
|ANSWER:||Click here to read the full answer of the expert|
|EXPERT:||CA. H. N. Motiwalla|
|CATCH WORDS:||Income from other sources- Gift to HUF by uncle|
There is no restriction from accepting gift from your real uncle (your father’s younger brother) for your HUF consisting of yourself, your wife and children, but the same would be taxable in the hands of your HUF.